I've read this rather bizarre exchange and am trying to figure out if:
1) Pashi believes that the government is not distorting the dollar market (for whatever reason, fair to Argentine citizens or not) by holding the value of the peso at an unreasonable rate that now most countries/peoples/entities won't accept unless they are forced into it (like a provincial government paying back dollar-denominated debt at the official peso rate, as discussed in another thread. Ah gee, couldn't possibly be a scam what the province is doing, could it?).
2) That everyone should ignore the black market rate, created by the government here (directly or indirectly - see "Laws of Unintended Consequences" which usually has a lot to do with government meddling in markets) because it's some kind of sin to want to trade anything at its actual value rather than just accept what a government says, no matter its motivations.
3) That he is somehow being altruistic and honest in his offer and really thinks he is doing people a good thing?
I have to say, I can go down just about any time I want to and change money at an arbolito or a cueva. Yes, cuevas are a bit harder to find and take some effort to get introduced to, etc, but I know a couple that I do business with (as well as MANY Argentinos, who I see there every time I go for my own business!). Arbolitos, however, are a dime a dozen and while you may not get the rate at an arbolito that you can get at a cueva, the difference is miniscule when compared to the rate Pashi is offering, and an arbolito is a very good way for tourists or short-term expats to change money.
Anyone who tells you that you have more possibility of being scammed at one of these types of places either is repeating unsubstantiated rumors or has some other reason for telling you that. As I've mentioned before, in over 6 years of doing business at both cuevas and arbolitos, I've NEVER been slightly scammed, and indeed, I have been able to substantiate the withdrawal of a $100 peso counterfeit note that was given to me at a CitiBank ATM - once. So based on those numbers, I've had more luck at black market locations than official locations and profited better as well.
I do know ONE guy who was ripped off after leaving a cueva (followed home) by what seemed to be a secretary in the cueva calling a confederate and alerting him to a large amount of cash. I know more people, however, who have been ripped off after walking away from an ATM (3).
Even if I couldn't find an arbolito or cueva, I'd still seek out people that have pesos to sell at a better rate than what the government offers. But if it's a "whole" 6% increase over the official rate it's not worth my time, not to mention the possible dangers of meeting with someone I don't know to get that little difference. I think I'd rather just withdraw from my ATM or go to an official casa de cambio than get that extra 6%. Not worth the effort. Think about it - 6 extra pesos for every 100 pesos I get that way. All of $1 USD at the blue rate (or an entire $1.28 at the official rate!!). As opposed to around 30 pesos extra for every hundred at the black market rate.
This whole conversation from Pashi's side reminds me a little of a scam I had attempted perpetrated against me back in the early '80s. I was driving a pickup, doing pickups and deliveries for a construction company, at the time. I had stopped for gas and while pumping, this guy comes up to me (a foreigner, from somewhere in Africa, from his accent) and asks me if I trust banks in the US. I said, sure, of course (it was a long time ago, I was quite young, about 22 or so). He proceeds to pull out a large roll of $100 bills, which he said was $50K. He told me that if I would take him to a bank, deposit the money in my account, and then withdraw it afterward to prove that it could be done, he'd give me $1000 of the cash.
Of course, it was a scam. I don't remember the details of the scam now, but something would change at the bank and I'd have to take some of my own balance out as well and somehow I'd end up losing that part of it and of course never see the $1000 he mentioned as well.
I'm not saying Pashi is a scammer, maybe he just doesn't understand how markets work or something.
But I can't help but wonder what would happen to someone who takes him up on his offer and accompanies him to the bank...that's the part that reminded me of the scammer I mentioned. It seems so on-the-level, so much so that he's even willing to take you to the bank and do everything in the clear. But all while mentioning something so bizarre about the exchange rates - alarm bells of some sort should be going off, I'd think. Maybe I'm just paranoid.
That second part seems more like him trying to pick on "the weak and ignorant." In this case hoping that he (not necessarily Pashi, but the image of the scammer that is accompanying the alarm bells going off in my head related to the strange point of view Pashi's holding on to) can trim off some tourist who reads this, who really doesn't know any better, fears things like finding an arbolito (who, in my opinion, shouldn't be traveling here if that's really such a fear for them - there's a lot more stuff to be caught out on here, I can guarantee) and would be happy to get something better than they can get at the ATM or official cambios. Even if it's 6% (some people's greed comes at such a low threshold, it's true).
People I know personally, outside of the city, particularly in poorer areas, are lucky to find someone to change their pesos to dollars at 7.5 pesos to the dollar (I know this is the reverse of what Pashi's offering but still is a comparison). I've changed a few thousand dollars over the last few months for these people at the blue rate as published on the various sites we all know about that give out such info instead of such a high rate. I find myself needing to buy pesos for living expenses and don't need to make a profit - and completely understand their desire to put their hard-earned money into something that holds value a bit better than the peso. (Although I also tell them to watch out - in a year and a half or so, we may find the dollar worthless. But if that happens, I think a lot of the world is going to be in trouble anyway).
Win-win situation. They get a much better rate (but still a real market rate, even if it is "blue") and I don't have to walk down to an arbolito or cueva to augment expenses when I didn't send down enough cash for the month.
Of course, everyone I know (and probably even more that I don't know) would come to me if I was insane enough to offer them 5-1 and I'd lose money hand-over-fist.
